Freestanding Medical Office
For Sale
Contact for pricing
2001 S Shields St, Fort Collins, CO 80526
Freestanding medical office building is fully leased to Banner Health under a corporate-guaranteed NNN structure.
Property Size4,506 SF
Price / SF$327.80
Days on Market196
Property Features for 2001 S Shields St
General Information
Standard status
Active
Size
4,506 SF
Property subtype
OFFICE
Occupancy
100%
Building Details
Tenancy
Single
Listing Agency:
CBRE - Fort Collins
(970) 372-3007
Listed By:
Jason Ortiz · License #IA40044459
(970) 214-1409
Source:
Moodyscre
Added: Mar 10
Changed: Sep 13
Last Checked: Sep 21 at 12:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Fort Collins
Investment Insights
Based on property information with market context.
CBRE presents this freestanding medical office building for sale at 2001 S. Shields Street, Fort Collins, Colorado. The building totals approximately 4,506 square feet and is fully leased to Banner Health, a nonprofit health system, under a corporate-guaranteed NNN lease. Rent includes annual CPI-based rent escalations.
The property is located in central Fort Collins, CO. The existing lease structure supports continued occupancy with corporate guarantee terms and inflation-linked adjustments as described in the offering materials.
For buyers seeking an income-producing medical office asset, this offering provides a leased, single-tenant medical office configuration with CPI-based rent escalation under an NNN framework.
The property is located in central Fort Collins, CO. The existing lease structure supports continued occupancy with corporate guarantee terms and inflation-linked adjustments as described in the offering materials.
For buyers seeking an income-producing medical office asset, this offering provides a leased, single-tenant medical office configuration with CPI-based rent escalation under an NNN framework.
Key Highlights
- ±4,506 SF freestanding medical office building in central Fort Collins, CO (Building i)
- Fully leased to Banner Health, a nonprofit health system
- Corporate‑guaranteed NNN lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,230
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,264,600
$1.3M
Cap Rate 7%
$903,286
$903.3K
Cap Rate 9%
$702,556
$702.6K
Market Conditions
NOI Build-Up for 4,506 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$99.0K $21.96/SF
− Vacancy
−$14.6K −$3.25/SF
EGI
$84.3K $18.71/SF
− OpEx
−$21.1K −$4.68/SF
NOI
$63.2K $14.03/SF
Area
Fort Collins, CO
Vacancy
14.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,264,600
Cap Rate 7%
$903,286
Cap Rate 9%
$702,556
Alternative Uses
Best Use
Office B
$903.3K
$790.4K – $1.05M
NOI $63,230 @ 7.0% cap · market cap 4.28%
Second Best
Healthcare Medical
$895.4K
$783.5K – $1.04M
NOI $62,680 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,135 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80526, CO
45,624
Population
19,463
Households
2.3
Avg Household Size
35
Median Age
57%
College-Educated
98%
High-School Grad
32.0 sq mi
ZIP Area
1,426
Density / Sq Mi
$89,098
Median Household Income
$42,496
Median Earnings
$1,641
Median Rent
$520,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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- Colorado State University Veterinary Teaching Hospital — 300 W Drake Rd, Fort Collins, CO 80523
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical office building is fully leased to Banner Health under a corporate-guaranteed NNN structure.
Where is this medical office space located?
The property is located at 2001 S Shields St Fort Collins, CO.
What is the asking price?
The asking price for this property is $1,477,076.
What are key features of this property?
This property features: ±4,506 SF freestanding medical office building in central Fort Collins, CO (Building i); Fully leased to Banner Health, a nonprofit health system; Corporate‑guaranteed NNN lease structure
